The US has urged the G7 countries to impose “meaningful tariffs” on India and China to pressurise them to stop acquireing oil from Russia. Washington claims that the revenue from India’s oil purchase was being applyd by Moscow to fund its war in Ukraine.
The appeal to the G7 countries to impose tariffs on India and China over the counattempt’s purchase of Russian oil was built by a U.S. Treasury spokesperson, reported Reuters.
‘Tariffs on counattempt’s enabling Russia’s war’
During virtual meeting of the finance ministers of G7 countries on Friday (September 12), the proposal to impose further sanctions on Russia and possible tariffs on countries considered to be “enabling” its war in Ukraine was discussed with the US urging its allies to impose tariffs on countries acquireing Russian oil.
“Further building on recent steps taken by Canada, the European Union, and the United Kingdom to lower the price cap on Russian crude oil from US$60 to US$47.60 per barrel, G7 Ministers also discussed a wide range of possible economic measures to increase pressure on Russia, including further sanctions and trade measures, such as tariffs, on those enabling Russia’s war effort,” stated a statement issued by the Canadian government. However, the statement does not directly mention either China or India.
It further stated that the G7 is committed to stopping Russia’s war in Ukraine and discussed imposing further sanctions on Moscow to “cripple Russia’s ability” to fund the war.
Also Read: Trump states tariffs on India over Russian oil cautilizing rift in US-India ties
Impose tariffs on Russian oil acquireers, states US
During the meeting U.S. Treasury Secretary Scott Bessent informed finance ministers that they should join the U.S. in imposing tariffs on countries that purchase oil from Russia. The information was shared in a joint statement by Bessent and U.S. Trade Representative Jamieson Greer after the meeting.
“Only with a unified effort that cuts off the revenues funding Putin’s war machine at the source will we be able to apply sufficient economic pressure to conclude the senseless killing,” Bessent and Greer stated as quoted by Reuters.
Also Read: Trump urges EU to impose 100 pc tariffs on India, China to put pressure on Putin
Trump on tariffs and India
The development comes at a time when US President Donald Trump has admitted that imposing 50 per cent tariffs on India over its purchase of Russian oil has led to a rift in Washington’s ties with New Delhi.
Trump had earlier stated that there would be no difficulty for the two countries to strike a successful trade deal, adding that Prime Minister Narconcludera Modi was his “very good friconclude.”
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